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NEW YORK--Alcoa (NYSE: AA) announced today that it plans to accelerate growth in
its midstream Global Rolled Products businesses by shifting away from a
regional, asset-based structure to a market-based structure, effective
immediately.

“We have seen very good growth in our midstream businesses, but we
believe even better returns are possible by changing from a regional
approach to a market approach,” said Klaus Kleinfeld, Alcoa Chairman and
Chief Executive Officer.

Helmut Wieser, Alcoa Executive Vice President and Group President, Alcoa
Global Rolled Products (GRP), said GRP will concentrate on five global
markets: Aerospace, Ground Transportation, (which includes Industrial
and Specialty Products), Packaging, Consumer Electronics and Defense.
The new organization will also focus on growth opportunities in China,
Russia, Brazil and the Middle East where the Company is building a
state-of-the-art rolling mill in Saudi Arabia with its joint venture
partner, Ma'aden.

"We see very favorable trends in these markets,” Wieser said. “Our new
structure will allow us to capitalize on the growth ahead and profitably
gain share. We will do this through better customer focus, global
product platforms and by taking regional resources and re-deploying them
to support global market initiatives."

Leaders of the five global markets will report to Wieser. Mark Vrablec
is named President, Global Aerospace, Ground Transportation and
Industrial and Specialty Products. He will oversee all rolled products
activities in these markets. Vrablec was most recently President of
Alcoa’s China Rolled Products, which is growing about three times faster
than the market in China.

Andrey Donets is named President, Global Packaging, where he will
oversee the Company's business serving the food and beverage can and
bottle markets. He will also oversee the company's lithographic sheet
business. Donets was most recently President of Alcoa Russia, which has
grown steadily to become a positive cash and profit contributor for the
Company.

Jiming Zhu is named President, Consumer Electronics, in addition
to his role as President, China Rolled Products. Zhu joined Alcoa in
July from Caterpillar where he directed China operations.

David Dobson will remain President, Alcoa Defense, responsible
for serving the military with aluminum solutions such as armor
protection for ground vehicles, bulkheads for the F-35 Joint Strike
Fighter, and sheet and plate products for the Navy's new Littoral Combat
Ship (LCS).

Last week, Alcoa announced it would expand its Davenport, (Iowa), rolled
products plant to meet rising demand from the automotive market as more
and more automotive original equipment manufacturers (OEMs) are
switching from steel to aluminum products from Alcoa to increase the
fuel efficiency, safety, durability and performance of the cars they
produce.

Vrablec has spent his nearly 30-year career with Alcoa in operating and
management assignments in Alcoa’s GRP organization. He joined the
company in 1982 as a metallurgist in Tennessee. He progressed through a
series of quality assurance and operation management assignments in
Alcoa’s Warrick, (Ind.), Lancaster, (Pa.), and Texarkana, (Texas),
facilities, until being named Director of Manufacturing at Davenport,
(Iowa), Works in 2001. He took on additional responsibilities for Alcoa
Aerospace Centers and Danville (Ill.) Operations in 2003. Vrablec was
appointed Managing Director of Alcoa Australia Rolled Products in 2008,
added responsibility for China Rolled Products in 2010, and Vice
President, GRP Technology and Engineering to his accountabilities in
early 2011.

Vrablec has a degree in metallurgy and materials science from Lehigh
University in Pennsylvania.

Andrey Donets

Andrey Donets became President, Global Packaging, for Alcoa in September
2011, responsible for the company’s business which serves the food and
beverage can and bottle markets. He also manages Alcoa’s global
lithographic sheet business.

Most recently, Donets was President, Alcoa Russia, supervising all
aspects of Alcoa operations in Russia and was Chairman of the Board of
Directors of Alcoa SMZ and Chairman of the Board of Directors of Alcoa
Metallurg Rus.

Donets has extensive experience working in the Russian metals sector,
holding senior management and commercial positions at Rexam Russia, the
Russian arm of the global packaging producer, and at Rostar, the Russian
beverage can maker. Later, he became Deputy General Director for
Packaging for Rusal, the Russian aluminum group, and Chairman of the
Board of Directors of Rusal Dmitrov, a foil facility.

Originally a physician by training, Andrey is a graduate of the First
Moscow Medical University. In 1998, he earned an MBA degree from The
Academy of National Economy under the Government of the Russian
Federation.

Jiming Zhu

Jiming Zhu joined Alcoa in July 2011 as President of Alcoa China Rolled
Products. Two months later he added President, Consumer Electronics, to
his portfolio. With this added responsibility, Zhu will coordinate the
commercial organization across the company to increase the use of
aluminum in the important and growing consumer electronics market.

Before coming to Alcoa, Zhu was Chairman of Caterpillar China, a global
manufacturer of construction and mining equipment, diesel and natural
gas engines, industrial gas turbines and locomotives.

Zhu holds a bachelor’s degree from the Beijing Foreign Studies
University, a law degree from the University of North Dakota and an MBA
from the University of Chicago.

David C. Dobson

David Dobson was named President of Alcoa Defense in 2006. He is also
leader of the Alcoa Defense Market Sector Team and a member of the Alcoa
Global Rolled Products Commercial Council, which focuses on
best-in-class commercial results.

Prior to joining Alcoa, Dobson worked for more than 25 years for General
Electric Company in several GE businesses, including business
development manager for the automotive sales and marketing group for GE
Plastics, general manager of motors and controls for GE Industrial
Systems, and president of North America for the GE Lighting business.

Dobson has a bachelor’s degree in business administration from the
College of New Jersey.

Maxim Smirnov

Maxim Smirnov was named Acting President of Alcoa Russia in September
2011, accountable for production, commercial, human resources, finance,
legal, and government relations. He had been Chief Financial Officer for
Alcoa Russia since 2009.

Before joining Alcoa as CFO Alcoa Russia, Smirnov held a similar
position with Mondi Syktyvkar, one of Russia’s largest paper and pulp
producers, which he joined in 2005. He also served in financial
management positions for building materials company Lafarge Russia.
While at Lafarge, he served as Financial Controller, and subsequently
became Finance Director for Lafarge in Russia and the CIS countries.
Earlier in his career, Smirnov held management positions in financial
and business planning for Mars Russian, a subsidiary of the American
confectionary and pet food producer.

Smirnov graduated in 1987 from Moscow State University with an Economics
degree.

About Alcoa

Alcoa is the world’s leading producer of primary and fabricated
aluminum, as well as the world’s largest miner of bauxite and refiner of
alumina. In addition to inventing the modern-day aluminum industry,
Alcoa innovation has been behind major milestones in the aerospace,
automotive, packaging, building and construction, commercial
transportation, consumer electronics and industrial markets over the
past 120 years. Among the solutions Alcoa markets are flat-rolled
products, hard alloy extrusions, and forgings, as well as Alcoa® wheels,
fastening systems, precision and investment castings, and building
systems in addition to its expertise in other light metals such as
titanium and nickel-based super alloys. Sustainability is an integral
part of Alcoa’s operating practices and the product design and
engineering it provides to customers. Alcoa has been a member of the Dow
Jones Sustainability Index for 10 consecutive years and approximately 75
percent of all of the aluminum ever produced since 1888 is still in
active use today. Alcoa employs approximately 59,000 people in 31
countries across the world. More information can be found at www.alcoa.com.